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US Law Firm Claims Environment Ministry Ignoring Generous Offer
Thursday 23 December 2010 Zoom in | Print page
Bratislava, December 23 (TASR) - The American law firm Skadden Arps Slate Meagher & Flom LLP has upped the ante for the remaining millions of tones of unused emission quotas by offering a sum that is at least €168-million higher than what the Environment Ministry is currently anticipating to sell the quotas for, the company announced on Thursday.
Several price offers have been ignored by the ministry, according to Rainer K. Wachter, director of the law firm's Vienna branch.
Slovakia is selling 27 million tones of emissions now, having more than ten potential buyers to chose from. Environment Minister Jozsef Nagy recently said that the bidders have decided to use a wait-and-see tactic lately, and warned that signals suggesting that quotas will be non-transferable year-on-year after the Kyoto Protocol terminates has already translated into emission price discounts on international markets.
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